Time Warner Cable stock took another hit Wednesday after its chairman
and CEO Glenn Britt reiterated that it would likely have a
third-quarter overall subscriber deficit.
Time Warner shares were
down as much as $1.68 each (3.2%) to $50.98 per share on Sept. 22,
before rebounding slightly to finish the day at $51.10 per share, down
$1.56 each or 3%.
Britt, speaking at the Goldman Sachs Communacopia
conference in New York, was trying to downplay remarks made last week at
another industry conference by Time Warner Cable chief financial
officer Rob Marcus,
adding that while the second-largest MSO in the country may report a
decline in overall subscribers in the third quarter, it was directly
related to the economy.
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